Ripple XRP could surge after North Korea and South Korea deal

In the middle of amid tension between two close nation (culturally and geographically) South Korea and North Korea have shown a positive attitude toward their citizens and country. And this become possible through sport, as we all know the sport is a healthy and effective way to start a dialogue too. Both nations are in despair especially from past two years but this may vanish soon.

Sport this time came as a special tool to dissolve the tension between the Koreas. The two Koreas will parade together under the Korean flag united at the opening ceremony of the Pyeongchang Winter Olympics, scheduled on February 9th, 2018.

North Korea South Korea deal

The arrival of North Korea through sea would be a violation of sanctions on North Korea so the North Korean team will enter the territories of South Korea through the industrial area of Kaesong which is closed since February 2016 and reach Seoul i.e the capital of South Korea by land.

The North Korean delegation will consist of 30 taekwondo athletes,150 Paralympic athletes, 230 cheerleaders and with management staff a total strength of 550. On Monday there was an agreement on sending of an orchestra of 140 musicians to perform in Seoul and other venues of sports. All above agreement took place in Panmunjom village near the 38th parallel line.

South Korea is an important factor for XRP as demand for XRP surges here incredibly in past and people from the US starts arbitrage with South Korean exchanges because of nearly 20 percent high prices from US exchanges. South Korean exchange BitHumb represents more than 35 percent of XRP market.

Because of news of the ban on cryptocurrency to curb illegal financial activities in South Korea downs the market drastically but the later government decided to regulate it. After peace talks with North Korea tension between two nation will surely reduce and so financial improvements may become the sign of this event. A senior analyst of HFG said that many financial institutions will buy Ripple as its price nearly comes down to $1 and clouds of uncertainty over cryptocurrency have cleared a lot in last few days in South Korea.

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Neeraj Pandey is a crypto enthusiast who writes ardently about happenings in the crypto world since 2016 and delivers his knowledge of Blockchain, initial coin offerings (ICOs) and breakdowns of the crypto world to its users relentlessly.